REIT Giant Set To Proceed

After several false starts over the past 12 months, Hong Kong’s $2.54 billion Link REIT is expected to hit the market on November 25. The listing—which would be the largest REIT offering in history—was derailed late last year after a public housing tenant in Hong Kong challenged the legality of the offering.

The Hong Kong government is prepared to let investors pull out of the offering if yet another legal challenge blocks the IPO, however. The Link REIT owns 151 shopping centers and 79,000 parking spaces.

Shares of the Link REIT are expected to price between $1.25 and $1.33 {U.S} per share. Last year, shares were expected to price slightly higher at $1.39 to $1.43 per share.